Yes, it is possible, and there are several ways to accomplish this, and that will depend entirely on your needs and how you've configured MC.
First, in Tools > Import > Configure Auto Import, remove any paths you do not want MC to use for automatically importing media references.
Second, if you want to remove certain paths from MC's library, use the Search Wizard and set a Rule to examine Filename (path), looking for those paths you want to remove from MC. MC will narrow the list of files to only those with the path you specified. You can now select all the files, and hit the Delete key. Use the first option selected, to just remove items from MC's library (the second and third option will delete the media files themselves).
If you don't want to remove the references from MC's library, but just want to filter them out for general use, there are several techniques for this. Ask for more help if this is the direction you want to go (but I'm assuming it isn't).